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Champion Iron Ord Shs T.CIA

Alternate Symbol(s):  CIAFF

Champion Iron Limited is an Australia-based iron ore exploration and development company. The Company, through its wholly owned subsidiary, Quebec Iron Ore Inc., owns and operates the Bloom Lake Mining Complex, located on the south end of the Labrador Trough, approximately 13 kilometers (km) north of Fermont, Quebec. Bloom Lake is an open-pit operation with two concentrators that primarily source energy from renewable hydroelectric power. The Company ships iron ore concentrate from Bloom Lake by rail, to a ship loading port in Sept-lles, Quebec, and has sold its iron ore concentrate to customers globally, including in China, Japan, the Middle East, Europe, South Korea, India and Canada. In addition to Bloom Lake, Champion owns a portfolio of exploration and development projects in the Labrador Trough, including the Kamistiatusset Project, located a few km south-east of Bloom Lake, and the Cluster II portfolio of properties, located within 60 km south of Bloom Lake.


TSX:CIA - Post by User

Comment by OuijaFundon Jan 25, 2022 3:57pm
242 Views
Post# 34359542

RE:Iron ore price jumps facing labour shortage

RE:Iron ore price jumps facing labour shortageAlong the same lines, I read an interesting thesis on Twitter by @paul01young that says that Omicron could reduce Australian iron ore shipments in 2022:

my one bold prediction for iron ore this year is that the price will continue to kick up because….. When Omnicron hits WA properly and finally makes it's way to our iron ore sites in the Pilbara, absenteeism will kick in due to isolation requirements and sickness, this in turn will reduce resource levels on sites and production will fall from our 4 major iron ore producers. Some mines may see production reduced to day shift only and I expect some mines will shut down for periods simply due to a lack of workers or infected village rooms and dry/wet mess halls. This will reduce global supply and push up prices. In fact I suspect that stockpiling in anticipation of a WA mining industry slowdown due to Omicron is occurring now already pushing up the price.
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